UK - QinetiQ portfolio company acquires pSiNutria

Intrinsiq will make a series of payments totalling USD 1.23m in the first year, plus additional royalty payments thereafter, to purchase and licence intellectual property involving applications for biosilicon, as well as laboratories, equipment and a team of scientists.

QinetiQ Ventures was set up in August 2007 by QinetiQ and Coller Capital with initial commitments of £40m, with both firms agreeing to provide £20m of follow-on funding to support the continued growth of portfolio businesses. The fund is managed by Cody Gates Ventures LP.

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